Transat Story (uncut) - Part III

Eventually one year  - probably 1998 or 1999 – Mr Jacoumis announced that he would be attending the meeting of shareholders in Monaco and it became obvious that he wanted to contest the accounts and claim some sort of dividend for the year (and perhaps years gone by).  Mr Coleridge luckily (and quite amazingly)  had the support of his ‘expert comptable’ who should have been impartial, and between them they persuaded Mr. Jacoumis when he did actually turn up for the AGM that it was not in his interest to pursue this as the matter of his debts in Monaco would be forced to re-surface. He was persuaded to let the matter drop Following this it became evident to Mr Coleridge that he needed to cut the ties with UFM and establish another company.  An SAM – Vita Marine owned by a friend was for sale and provided the rather opportune solution.  Vita Marine was acquired by Mr AND Mrs Coleridge who became the company’s administrators and they held equal shareholdings. The company’s name was changed to Transat Maritime SAM (and in line with this a Nevis IBC - International Transport Consulting and Crewing Ltd (ITCC) - was formed to take over from ESC.  So the ESC business that was originally run through UFM was eventually transferred over to Transat as ITCC. Transat took on a new address in offices on Boulevard des Moulins, and UFM was dissolved in 2001.  Hopefully all possible links between UFM and Transat, and  ESC and ITCC would dissipate with time.

Under the auspices of UFM (both United Fleet Management SAM, and the offshore UFM ltd) a substantial client base had begun to form for ‘offshore vehicles’, with Mr. & Mrs Coleridge lending their names as directors and Monaco residency for the incorporation of IBCs – mainly Nevis, but there were others – see listing made by Mr Coleridge dated approx 1994 of directorships held.

Clients were from various backgrounds and based in a number of countries. For example

Stanhope Securities, and Reinsurance Consultancy were set up for two prominent members of the London insurance market.

Coral Sea Shipping for a Mr GK,  a then prominent shipowner in Leer, Germany

Anchor Navigation for a Mr HL, ,  then a prominent business man in Leer and newcomer to shipowning, now prominent shipowner in his own right.

Ace Shipping and Seawave Navigation for a small fledgling shipowner and manager in Tallin, Estonia

Orwell Shipping Services for a Mr BB of Lonadon, at the time a London based shipping operation of the same name that eventually set itself up in Monaco of its own accord.

Various companies for Russian resident businessmen involved in crewing/manning (NWT or North-Western Transport); Transportation and logistics (General Transport & Shipping, General Transport & Projects) etc etc.

The main client however was Roelf Briese of Briese Schiffahrts and Leda Shipping under whose instigation ESC was set up. 

Briese website in English - http://www.briese.de/startseite.html?&L=1

Leda Shipping Website - http://www.ledaship.de/

Mr Briese was also the ultimate BO of several other companies under the management of UFM such as Indigo Trust, Senator Maritime